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Debenhams is following other big name chains including House of Fraser , BHS , Maplins and Toys R Us, who have shut stores in recent years.

No details have been given which stores will close.

But bosses said they would be over a three to five year period.

The group said it had recorded a £491.5 million loss in the year to September after being stung by exceptional write-downs of £512.4 million, primarily relating to store and lease provisions, IT costs and impairment charges.